Access to Capital for Entrepreneurs (ACE)
Pulls From: Transunion
Reports to: Business Credit Agencies
Borrower Service Area: Georgia
Website: https://aceloans.org/
Phone: 706-348-6609
About: The mission of Access to Capital for Entrepreneurs, Inc. (ACE) is to provide community economic development to underserved people and communities. ACE is a non-profit organization that provides loans and business development resources to help its borrowers create and grow sustainable businesses which generate jobs.
Facts about ACE’s customers:
- 84% have businesses in Metro Atlanta
- 89% are from underserved populations
- 43% of loan funds provided to women business owners
- 63% of loan funds provided to African American small business owners
- 9% of loan funds provided to Hispanic small business owners
Funding Products Available
Small Business Loan
LOANS AVAILABLE UP TO $50,000
Each application will be considered on the basis of the company’s unique financial needs.
- Minimum credit score of 550
- Interest rate based on market
- Terms are typically less than 6 years
- Collateral is required
- $50 non-refundable application fee
- Loan proceeds can be used for equipment, inventory, working capital or for business or franchise acquisition
- Documentation is required.
Commercial Loans
LOANS AVAILABLE OVER $50,000
ACE offers loans over $50,000 to qualified applicants. If you are looking for help to purchase a building, upgrade expensive equipment, or make other costly improvements so that your business can grow, ACE can help!
Each applicant will be considered on the basis of the company’s unique financial needs.
- Must have acceptable credit score
- Interest rate based on market
- Terms are based on loan purpose and amount of loan
- Collateral is required
- Documentation is required.
For loan amounts over $50,000, please contact one of our Commercial Sales Officers, Anthony Flack at flack@aceloans.org, or Maria Peck at peck@aceloans.org.
TILT Forward Short-Term Working Capital Loan
Loan sizes range from $5,000 to $25,000 with terms between 6 and 18 months, and with daily ACH repayments Monday through Friday. To qualify for this loan, your business must have at least $100K in annual revenue and one year in business. Collateral is not required.
Business Profile
- 12 months or more in business
- Borrower must own at least 50% of business
- Personal credit score of at least 500
Cash Flow Profile
- Revenues of >$100,000
- $1,000 average bank balance
- No more than 1-day negative bank balance/month
- No more than 4 over drafts/month
- At least 5 bank deposits / month
Judgments, Liens & Bankruptcy
- Bankruptcy discharge >2 years
- Applicants with unresolved liens or judgments within past 3 years will be declined